MEDIA

Launching of the Harenasoa Poultry Project

As part of its social commitment, Ambatovy participates in the creation of a broiler breeding project, called Harenasoa, in its intervention areas. Harenasoa is the fruit of cooperation between Ambatovy, Agrivet from the SMTP Group, the municipalities in the Alaotra-Mangoro and Atsinanana Regions, and farmers. Harenasoa is one of the projects funded by Ambatovy’s Social Investment Fund (SIF), which is a fund dedicated to financing social and infrastructure projects in the Company’s intervention areas.

On November 26 and27, 2013, Harenasoa and four beneficiary municipalities, namely the municipalities of Mahatsara, Brickaville, Ambinaninony and Ampasimadinika, proceeded to the signing of the Memoranda of Understanding of the poultry project and the lease contracts of the lands on which the poultry farms will be built.

Harenasoa is jointly managed by Ambatovy and Agrivet. The project will develop approximately 50 broiler farms in these municipalities, create more than a hundred jobs for the farmers in these regions, and provide an opportunity to improve their living standards. Harenasoa will be in charge of the logistical aspects, as well as the supply of chicks, vaccines and agricultural inputs, and will also provide free technical assistance to the farmers. For its part, Ambatovy will contribute through a financial support for the construction of the farms and the start-up of the project.

As an active member of the community, the Company supports this food and agricultural initiative within the framework of its “buy locally, hire locally” policy, which aims to maximize the benefits for its host regions. When ready, the chickens will be sold on the local markets. Therefore, the Company will contribute to the development of the Malagasy poultry sector.

This poultry project is funded by the Social Investment Fund (FIS), through which Ambatovy has committed to working with the Government and the regions and invested $25 million in social and infrastructure projects to benefit the population. Apart from the Harenasoa Project, Ambatovy is, among others, currently rehabilitating the Bazary Be market in Toamasina.

Ambatovy is proud of its involvement in social actions that will benefit the communities where it operates.